(a) To qualify for an emergency assistance loan made under § 4-804(4) of this subtitle, an applicant: (1) shall be unable to keep payments current on the applicant's home mortgage because of unforeseeable adverse personal or economic circumstances; (2) shall be at risk of forfeiting title to the applicant's home; and (3) reasonably may be expected to resume regular mortgage payments within 24 months after the first mortgage assistance payment is provided. (b) For an emergency assistance loan under § 4-804(4) of this subtitle: (1) the Department shall consider the amount of equity in the property; and (2) the loan may not exceed an amount equal to 36 payments of principal and interest on all superior liens, plus: (i) late fees; (ii) taxes; (iii) insurance payments; and (iv) other payments needed for the loan to be current.
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